Former Akwa Ibom State Governor Victor Attah and a consortium of local and international investors have unveiled plans to revive the long-delayed Ibom Science Park, following the decision of Governor Umo Eno’s administration to step away from the state-owned project.
The investors are proposing to transform the abandoned facility into part of a larger private technology ecosystem to be known as Uyo Silicon Valley, with a planned World Trade Centre Uyo expected to serve as one of its major components.
The development was announced in a communiqué issued by The Silicon Valley Science Park (Nigeria) Limited, led by businessman and 2023 African Action Congress governorship candidate in Akwa Ibom, Iboro Otu. Attah serves as chairman of the company’s board.
Investors seek takeover of Ibom Science Park
The company said it has formally approached the Akwa Ibom State Government to take over and redevelop the Ibom Science Park.
The move follows Governor Eno’s earlier indication that the state was prepared to hand the project to a capable private investor rather than continue operating it directly.
The promoters believe combining the existing science park with the proposed Uyo Silicon Valley could eventually create one of Africa’s largest technology and innovation districts.
The original science park was conceived during Attah’s administration as part of efforts to develop Akwa Ibom into a knowledge-driven economy. However, the project has remained largely undeveloped through successive administrations.
What the proposed Uyo Silicon Valley will contain
According to the investors, the proposed development will occupy 35 hectares in Uyo and feature nine specialised technology clusters.
The planned facilities include a 20-megawatt data centre, premium commercial offices, serviced residences and an international conference centre.
Other proposed clusters will focus on:
Artificial intelligence and software development
Biotechnology
Clean technology
Advanced manufacturing
Aviation and aerospace
Digital media
Enterprise solutions
Other technology-driven industries
The promoters said the development is designed to bring together technology companies, investors, innovators and businesses under one integrated ecosystem.
$250m financing commitment
The company also disclosed that a Florida-based family investment fund has expressed interest in providing a $250 million mezzanine financing facility, subject to commercial, legal, financial and technical due diligence.
It said Nigerian construction and consulting companies have also indicated willingness to support elements of the project through deferred payment arrangements valued at more than N85 billion.
The promoters further claimed to have attracted expressions of interest from international technology companies, including data centre developers affiliated with Microsoft, drone manufacturers, aviation training organisations and electric vehicle companies.
The company also disclosed that it signed a memorandum of understanding with the Russia/BRICS Science Park Association in 2024.
World Trade Centre Uyo takes centre stage
A key part of the proposal is the planned World Trade Centre Uyo, which the promoters said has qualified for an operational licence.
The facility is expected to provide international business services, networking opportunities, training and advisory support while helping businesses in the South-East and South-South connect with global markets.
According to the company, the centre would also help attract foreign investment and create opportunities for Nigerian entrepreneurs to expand their businesses internationally.
Investors ask government to fix drainage
While seeking control of the science park, the developers also appealed to the Akwa Ibom State Government to resolve drainage problems around the proposed development site.
They claimed stormwater from a state drainage system has affected the site and delayed construction activities for about a year.
The company urged the government to complete previously agreed engineering works aimed at redirecting floodwater away from the development area.
100,000 jobs projected
The promoters estimate that the full development could create more than 100,000 direct and indirect jobs and generate annual gross revenues exceeding N190 billion.
They put the projected investment value of the entire development at about $411 million.
With Attah continuing to provide strategic leadership, the investors say their goal is to transform Uyo into a major technology and innovation destination and position Akwa Ibom as one of Nigeria’s emerging hubs for science, technology and investment.
For the plan to become reality, however, the proposed takeover of the Ibom Science Park will still require agreement with the Akwa Ibom State Government and the completion of the necessary financial, legal and technical processes.
Ibom Science Park Gets New Life as Attah, Investors Push to Turn Uyo Into Nigeria’s Tech Hub
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